Since July 25, the National Development and Reform Commission and the Ministry of Finance issued the "Several Measures to Support Large-scale Equipment Renewal and Consumer Goods Trade-in", the subsidy for automobile scrapping and renewal has been increased, and the average daily scrapping and renewal subsidy applications in August exceeded 10,000. Some provinces and cities have also introduced replacement and renewal policies, and market consumption enthusiasm has been further stimulated, especially new energy vehicles, which have performed strongly and made significant contributions, driving the month-on-month growth of automobile production and sales.
In August, commercial vehicle sales were 272,000 units, down 5% year-on-year. Specific to the truck market, in August, compared with the same period last year, only the production and sales of medium-sized trucks showed a significant increase, and the production and sales of the other three types of trucks all declined to varying degrees.
On September 10, the China Association of Automobile Manufacturers (CAAM) released the latest automobile production and sales data. According to the data, in August, vehicle production and sales reached 2.492 million units and 2.453 million units, up 9% and 8.5% m/m, respectively, and down 3.2% and 5% y/y, respectively. From January to August, vehicle production and sales totaled 18.674 million units and 18.766 million units, up 2.5% and 3% y/y, respectively.
Commercial vehicle production in August totaled 271,000 units and 272,000 units, up 5.7% m/m and 1.4% m/m and down 9.8% and 12.2% y/y, respectively. Among the main varieties of commercial vehicles, compared with the previous month, the production and sales of passenger cars increased to varying degrees, and the output of trucks increased slightly and the sales volume decreased slightly; Compared with the same period last year, the production of passenger cars declined, sales increased, and the production and sales of trucks all showed double-digit declines.
In August, domestic sales of commercial vehicles were 198,000 units, up 0.2% month-on-month and down 20.9% year-on-year. Commercial vehicle exports totaled 74,000 units, reflecting a 4.7% m/m increase and a 24.7% y/y increase.
In August, truck production and sales totaled 233,000 units and 232,000 units, respectively, with production up 5.4% m/m and sales down 0.2% m/m. The year-on-year decreases were 11% and 14.2%, respectively.
In the subdivision of trucks, compared with the previous month, the production and sales of heavy trucks increased to varying degrees, the production of light trucks increased slightly, and the sales volume decreased slightly, and the production and sales of the other two major types of trucks decreased to varying degrees; Compared with the same period last year, the production and sales of medium-sized trucks increased significantly, and the production and sales of the other three types of trucks decreased to varying degrees.
From January to August, commercial vehicle production and sales totaled 2.532 million units and 2.608 million units, with production down 0.8% y/y and sales up 1.6% y/y. Among the main varieties of commercial vehicles, compared with the same period last year, the production and sales of passenger cars increased slightly, while the production of trucks decreased and sales increased.
From January to August, the domestic sales of commercial vehicles were 2.011 million units, a year-on-year decrease of 3.4%; Commercial vehicle exports totaled 597,000 units, reflecting a 22.8% y/y increase.
From January to August, truck production and sales totaled 2.218 million units and 2.289 million units, respectively, with production down 1.4% y/y and sales up 1% y/y.
Among the main varieties of trucks, compared with the same period last year, the production and sales of medium-sized trucks showed double-digit rapid growth, the production of light trucks increased slightly, the sales volume increased slightly, the output of heavy trucks declined, the sales volume increased, and the production and sales of mini trucks declined to varying degrees.
In August, NEV production and sales reached 1.092 million units and 1.1 million units, up 10.9% m/m and 11.1% m/m and 29.6% and 30% y/y, respectively, and new NEV sales accounted for 44.8% of total new vehicle sales. Among the main varieties of new energy vehicles, compared with the previous month, the production and sales of fuel cell vehicles decreased significantly, and the production and sales of the other two major types of new energy vehicles increased to varying degrees; Compared with the same period last year, the production and sales of the three major types of new energy vehicles have increased to varying degrees.
From January to August, the production and sales of new energy vehicles totaled 7.008 million and 7.037 million units, an increase of 29% and 30.9% year-on-year, respectively, and the sales of new energy vehicles reached 37.5% of the total new car sales. Among the main varieties of new energy vehicles, compared with the same period last year, the production and sales of the three major types of new energy vehicles have increased to varying degrees.
Epilogue:
With the gradual effect of the central scrapping and renewal policy, the superimposed local replacement and renewal subsidy policy has come into effect, which is expected to play a positive role in promoting the automobile market in the next four months. In addition, the automotive industry is about to usher in the traditional sales season of "Golden September and Silver October", autumn auto shows will be held in many places, and major car companies are also continuing to launch new products, which will help further release the vitality of market consumption.